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The Busition-to-Business (B2B) Stablecoin transaction is gaining momentum, according to a new report from Artemis, Dragonfly and Castle Island Ventures.
The report found that such payments amount to $36 billion per year. This is above $18 billion from person to person (P2P).
Source: Stablecoin payments start from zero
As you can see from the chart above, the volume is really being featured on the B2B side of things, showing that the recruitment we've been talking about is heavily reflected in the data. I love to see that.
The study noted that USDT has won the popularity contest with these payments, but USDC has around 30% of its monthly volume.
“I was expecting…that circle would have been a little better than that,” Dragonfly's Rob Haddick told me. “The reality is, today it's still… 80% to 90% tether. It shows that the circle is probably getting it on the B2B side, but we haven't seen it in the data yet.”
On the downside, however, P2P appears to be a bit of a pain.
It appears that the volume peaked earlier this year, but specifically, despite being a very bullish environment with a stable environment, we can see that it hasn't bounced back.
Haddick said he was surprised to see the P2P market hit such a wall. He said WorldPay's latest report showed that accounts paying more from accounts to accounts has become the fastest growing payment segment in the world.
So his reading was that the volume of P2P Stablecoin could be boosted from that, but obviously – as the data above shows – is not. Meanwhile, he was excited to see B2B payments growing rapidly.
What stood out to me was the small segment of payments from businesses to consumers. Also Stagnation.
As can be seen above, the B2C volume appears to have collided at about the same time as P2P before it dropped.
This is not to increase this year's rise with volumes focused on vinance pay and trajectory.
“Volume has increased significantly, from about $50 million per month at the start of 2023 to over $300 million by early 2025. This growth underscores the growing role of stubcoin in everyday digital commerce and service platforms,” the study states.
Empire co-host Santiago Santos said in this week's summary that B2B vs B2C caught the eye.
